Find the simple interest on rs. 306.25 from march 3rd to july 27th( in the same year ) at 3.75 percent
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The principal value(P) = 306.25 (given)
Given rate(R) = 3.75%
No of days(Time T) =28+30+31+30+27
=146 days
= 146/365 years
=0.4 years.
We know that,
Simple Interest(S.I)= (PxRxT) / 100
Therefore,
Simple Interest = (306.25 x 3.75 x 0.4)/100
=459.375/100
=4.59375
=4.6(APPROX)
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